Note that answers are given. Please show the workings to arrive at the answers.
An auditor for an insurance company in Alberta reports 40 percent of the policyholders 55 years or older submit a claim during the year. 15 policyholders are randomly selected for company records
a) how many of the policyholders would you expect to have a filed a claim within the last year? Ans; 6
b) What is the probability that 10 of the selected policyholders submitted a claim last year? Ans: 0.0245
c) What is the probability that 10 or more of the selected policyholders submitted a claim last year? Ans: 0.0338
d) What is the probability that less than six of the selected policyholders submitted a claim last year? Ans: 0.4032
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